Business introduction services - relief expiry

Relief that was previously in existence for business introduction services in relation to managed investment schemes has now expired. ASIC's position is that the relief was relied on by only a small number of entities and when ASIC sought feedback on their plan to expire the relief, only two (2) submissions were received. Earlier versions of the relief had also applied to securities, however those have long since expired.

Business introduction services (in their most recent form) were services that enable information sharing between potential investors, issuers and sellers of products through various channels including meetings and publications such as brochures and bulletins. ASIC Corporations (Business Introduction Services) Instrument 2022/805 (the Instrument) provided relief from provisions of the Corporations Act which dealt with: